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  President Trump Keynote Address to Heritage Foundation  CSPAN  October 17, 2017 11:54pm-12:24am EDT

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president trump delivered remarks at the heritage foundation's annual meeting tonight. he out find his tax reform proposal, which aims to provide $4000 in tax relief for the average american household, reduce the corporate tax rate and eliminate the estate tax. president was introduced by the foundation's founder and president. [applause] >> thank you my dear friends. he promised he would not forget them. he has kept this promise despite
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it leads being shocked by it. we at theent, heritage foundation stand ready to help you keep your promise and to realize the promise of america. ladies and gentlemen, i have the high privilege and distinct honor of presenting to you the 45th president of the united states, donald j. trump. ♪ pres. trump: thank you for that wonderful and dynamic introduction. [applause]
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of ed,rump: and because i hear they had to make this room a lot larger quickly. that is great. thank you very much. dedication, leadership, and devotion to our country has been spectacular. it very much. i would like to provide a quick update on our economy. i don't think too many people in this room will be upset, but the stock market hit today 23,000. all-time record high, so congratulations to everybody in our country. it is an incredible honor to be here tonight to celebrate this really wonderful foundation. just a few months from now, you
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will mark the 45th anniversary of this esteemed institution, nearly half a century, you have been tightens in the fight to defend, promote, and preserve our great american heritage. few people have worked harder to protect this heritage then add meese, a fearless defender of our constitution. [applause] pres. trump: thank you, ed. and mrs. mees
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that is a very popular couple, i must say. i also want to express deep appreciation to the great steve moore. where is steve? steve has been fantastic. we have been working long and hard together. we are thrilled to be joined by many distinguished guests, including senator joni e ernst, and congressman ron the santos. forhank you, ron everything. and thank you joni. , thank you, joni. thanks ron. and i wanted thank the dedicated scholars and staff at the heritage foundation. i wanted to express my gratitude to them. thank you, very much. thank you. great job. [applause] everyone here tonight a core truth that for america to have confidence in our future, we must have pride in our history. as americans we have inherited a
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special legacy of freedom, culture, laws, traditions and values. "theorganization is named heritage foundation" because you understand that our glorious heritage is the foundation of everything we hope to achieve. you understand human progress must be built upon a firm foundation of timeless truths. these truths are immortalized in our founding documents, and the most important truth our founders understood was this. freedom is not a gift from government. freedom is a gift from god. [applause] trump: that is why we are here tonight to rededicate , ourselves to the defense of our god-given rights. [applause]
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president trump we are here to : ensure that we defend this legacy from any threat, foreign or domestic, that would seek to weaken our values, diminish our freedoms or dissolve the bonds that hold us so strongly and firmly together. as our nation has responded in recent weeks to a series of heartbreaking tragedies, from the catastrophic storms to the devastating wildfires, to the horrific mass shooting in las vegas, we are reminded that no destructive force on earth is stronger than the courage, character and love of the american people. [applause] this is a time of great challenge for the world, but also a time of great opportunity. we can unleash the creative power of our citizens, unlock new frontiers in science and medicine, and usher in prosperity for communities all across our land.
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but to achieve these great things we must hold fast to the values that define who we are, as a people and as a nation. everyone here tonight is united by these same enduring beliefs. we believe that the constitution is the greatest political document in human history. [applause] and that judges should interpret the constitution as written. [applause] we believe we should preserve our history, not tear it down. now, they are even trying to destroy statues of christopher columbus. what is next? it has to be stopped. it is heritage. we believe that america is a nation of opportunity because we are a nation of laws and we
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support the incredible men and women of law enforcement. [applause] president trump: we believe that our great american flag should be treated with reverence and respect and that young americans , should be taught to love our country, honor our love our some -- honor and love our anthem and -- proudly recite the pledge of allegiance. we believe that strong nations must have strong borders, and that our most important job is to serve the needs of america and the american people. that includes commonsense reforms like cracking down on sanctuary cities, ending catch and release, and very importantly, ending chain migration.
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[applause] the loyal, hard-working citizens of our country deserve a government that shows them the same loyalty in return. finally, we believe that the basis for international security and peace is mutual cooperation among independent and sovereign nations. this is the message i delivered in my address to the united nations. i told the leaders in that hall that just like i accept and we all understand this, and they finally understand it because , there was a great misunderstanding, just like i expect them to put the needs of their country's first, i will always put the needs of our country first. [applause]
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that is why we are withdrawing from one-sided international deals like the transpacific partnership and the paris climate accord. [applause] devastating to our country if we would have gone into those deals. my administration is working to strengthen old alliances and form new friendships based on shared interests, shared goals, and shared values. as a demonstration of america's will, we have passed historic increases in defense spending. you saw that just last week. [applause] because as ronald reagan said, we believe passed historic -- we believe in peace through strength. [applause] we have made historic strides in the fight against isis, dealing them one brutal defeat after another. we are confronting dangerous
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regimes from north korea to iran. last week, i announced a strategy to ensure the iranian dictatorship never acquires a nuclear weapon. [applause] we have imposed tough terrorism sanctions on a rant revolutionary guard corps. i canceled the last administration's one-sided deal with the communist cuban regime and we will not lift sanctions until political and religious freedoms are restored for the cuban people. [applause] at the same time, we are confronting the socialist oppression of the maduro regime. the problem in venezuela is that the best is not that socialism has been poorly incremented but
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-- been poorly implemented, but socialism has been faithfully implemented. [applause] we stand in solidarity with the people of venezuela in their struggle for freedom. here in america, we are strengthening our own freedom by appointing judges to the bench who will support and defend the constitution of the united states. [applause] with your help, we have not only nominated but confirmed the new supreme court justice who is doing a spectacular job, neil gorsuch. [applause] we have taken action to repeal the epa's so-called clean power plan and we have ended the war on clean, beautiful coal. [applause]
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people going back to work. they are going back to work. over the last nine months, we have removed job killing regulations at a record pace. in fact in nine months, we have , done more, they say, than any president in history, and we are nine months and there is more to come. we have statutory guidelines we have to go by, a period of time, but there is much more to come. i believe in regulation but it has to be limited to what we need. we want clean water, clean air, it has to be fair. we also want, by the way, jobs. [applause] our regulatory reductions are going to put more americans back to work and more lobbyists out out of work. there could be some lobbyists in this room, sorry. which is why regulatory reform is a crucial part of our drive to drain the swamp.
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on the economic front, we are upholding the legacy of america's greatest presidents from washington to jackson to lincoln, by defending american industry and defending our american workers. we want more products stamped with those beautiful words and letters, "made in the usa." [applause] to restore opportunity and freedom, we must continue our campaign to repeal and replace the disaster known as obamacare. [applause] i have been hearing that phrase for seven years. seven years, i have been hearing it, so have you. and i got here and i thought, maybe when i sit down at that desk the first day, january 20, i will have something to sign. not as easy as we thought that
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-- but we will get it done, you watch. [applause] that the democrats have finally responded for my call for them to take responsibility for their own obamacare disaster and work with republicans to provide much-needed relief to the american people. while i commend the bipartisan work done by senators alexander and murray, and i do commend it, i believe congress must find a solution to the obamacare mess instead of providing bailouts to insurance companies. [applause] after many years of government obstructing job creation, you have now an administration that promotes job creation and celebrates the dignity of work. [applause] unemployment and this is
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something so important, unemployment is almost at a 17 year low. gdp growth reached more than 3.2% last quarter. and people said it would take years to get there. manufacturing confidence is at record levels in our country in our economy, we cannot take off like we should unless we transform america's out dated, complex and extremely burdensome tax code. [applause] the great heritage foundation has been at the center of several incredible tax cuts in american history. working closely with the heritage foundation, ronald reagan cut taxes to unleash the economic miracle of the 1980's. you understand that lower taxes mean bigger paychecks, more
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jobs, and stronger growth. at the heart of our plan is a tax cut for every day working americans. the first $12,000 for a single individual and the first $24,000 for a married couple will be tax-free. [applause] -- we are nearly doubling the zero bracket, and we substantially increased the child tax credit for working families, which so many people want including my daughter, ivanka. to save precious time and money we're signifying the tax code to the under our frameworks,
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vast majority of families will be able to file their taxes on a single sheet of paper. [applause] in addition to simplification, the other pillar of our tax plan is reducing our crushing business tax so that we can restore america's competitive edge. today, our business tax rate is 60% higher than our average economic competitor. this is a giant self-inflicted , economic wound. that is why we will cut the corporate tax rate from 35% all the way down to not more than 20%, way below our average competition out there in this very competitive world. [applause] and for small businesses that file taxes, as sole proprietors, s corporations or
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partnerships, we will cap the top tax rate at a maximum of 25%. [applause] it is a tremendous reduction from what it is and i will tell you, it is the biggest reduction in taxes in the history of this country. [applause] for the more than 30 million american small businesses in america this will be the lowest top marginal rate, 40 percent income cut, the lowest tax rate for small and medium-sized businesses in more than 80 years. [applause] to maximize job creation for at least the next five years, we will allow our companies and our manufacturers to expense the
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full cost of new equipment in the year they buy it. one year, it is written off. [applause] it makes me want to go immediately back into business. [laughter] and yes, we are ending the horrible and very unfair estate tax, also known as the death tax. [applause] finally, we are going to bring back trillions of dollars currently parked overseas. you look at the money that cannot come back into our country, i have been saying for years it is 2.5 trillion dollars, democrats want it back, republicans want it back, and they have for a long time. they have never been able to make a deal. lack of leadership. we are putting that in our tax plan.
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it will be over $3 trillion, it could be substantially more than that. because if i am saying $2.5 trillion and i've been saying it for many years, we know one thing, it is a lot more now. nobody really knows the answer, i will tell you i think it is , substantially over $3 trillion that will be brought back in our plan and put to work in our country, not some other country. [applause] our framework provides a one-time low tax on profits currently sitting offshore so that this money can come back right where it started, come back home to america, where it belongs to read and believe me, we can use it in this country. we need it so badly for so many things, including infrastructure, which we will -- which we will also be doing .o rea we will eliminate the penalty on bringing home and we have to do
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that, feature earnings. my council of economic advisers estimates the change along with a lower business tax rate, would likely give the typical american household around a $4000 pay raise. that is money that will be spent in our economy. [applause] our tax plan will ensure that companies stay in america, grow in america, and hire in america. [applause] we will lift our people from welfare to work, from dependence to independence, and from poverty to total, beautiful, prosperity. [applause] which is why we need the help of the heritage foundation and everyone here tonight to get our tax cuts through the house, through the senate and to my
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desk for signature. [applause] so you have to call up your local senator and say, senator, do not give him a hard time. do not give him a hard time. it will be hard getting the democrats because they are obstructionist in their voting blocks but if we get the republicans we need, which is virtually every single one of them, because that is what we need, we will get that largest tax cut in the history of our country, and you will see things happen like have never happened before. we will have employment. we will have jobs. we will have companies moving back into our country. and we certainly will not have companies leaving anymore, that i can tell you. [applause] so get your senator, call your
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congressman, you do not have to call ron, i think ron is ok. ron is good. most of them are good. but there are a couple -- i think we're going to get there. run his incredible. so let's give our country the best christmas present of all. massive tax relief. and speaking of christmas, -- yes? do you want to hear it? speaking, you know i am talking , about the christmas present, i will give you a bigger christmas present, you will be saying merry christmas again. ok? you know? you go to the stores and they have the red walls and they have the snow and the even have the sleigh and the whole thing. they do not have merry christmas. i want them to say merry christmas, everybody. happy new year, happy holidays,
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but i want merry christmas. [applause] we are going to say it again it , is happening already, you know it. you know it. we are going to say it again. this is our chance to truly make a difference. this is our opportunity to unleash a new middle class miracle. this is our once in a generation opportunity to revitalize our economy, revive our industry, and renew the american dream. the heritage foundation can once again help make history by helping to take this incredible idea, this proven idea, this tax cut, making it a reality for millions and millions of patriotic americans. we know that when the hard-working people of this country huddle in the break room, at the rest stop, or at
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the end of a long shift, they take pride in knowing that the projects they work and the products they make are not just in business they are building , families and communities, and most of all, they are building this nation that we all love so much. [applause] the fact is, the soul of a country is found in its people and we owe it to our citizens to , provide them with the future of opportunity where they can earn a living with dignity and purpose. we want every parent to be able to care for their children, and we want every child to know a future opportunity and we want them to have security and we want them to have hope. we have it in our power to build this future together, and we
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will build upon the firm foundation of our great american heritage. as long as we remember who we are, and what we are fighting for, then we will never, ever fail. as long as we have pride in our country, confidence in our future, and faith in our god, then our best days are yet to our values will endure, our communities will flourish, our people will prosper, and america, the land we love, will thrive as never, ever before. thank you to the heritage foundation. [applause]
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president trump: thank you very much. thank you very much. thank you very much. thank you to the heritage foundation, and thank you to everyone here tonight. thank you to every american who se hard work and patriotism makes our country run. and again, god bless you all, and god bless the united states of america. thank you all. thank you. [applause] ♪ [captions copyright national cable satellite corp. 2017] [captioning performed by the national captioning institute, which is responsible for its caption content and accuracy. visit ncicap.org]
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announcer: earlier in the day, separate chuck schumer and other democrats talked about the issue of the overhaul of the tax code. but first, a look at tomorrow's hearings. jeffttorney general ss